Oracle Reportedly Lands TikTok Deal After Microsoft’s Bid Rejected
Written by SOURCE on September 14, 2020
ByteDance has rejected Microsoft’s bid to buy the app’s U.S. operations.
“ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft,” Microsoft said in a statement. “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”
Oracle essentially won the bidding war after it was reported that TikTok will announce the company as their “trusted tech partner” in the U.S., per Wall Street Journal. Their agreement will likely not be structured as an outright sale.
This post will be updated.
